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FINAL DEADLINE REMINDER: The Schall Law Firm Encourages Investors in Snowflake Inc. with Losses of $500,000 to Contact the Firm

Monday, 08 April 2024 07:00 AM

The Schall Law Firm

LOS ANGELES, CA / ACCESSWIRE / April 8, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Snowflake Inc. ("Snowflake" or "the Company") (NYSE:SNOW) for violations of ยงยง10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between September 16, 2020 and March 2, 2022, inclusive (the "Class Period"), are encouraged to contact the firm before April 29, 2024.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Snowflake oversold capacity to customers creating the illusion of demand for its products and services. The Company gave significant discounts to customers in advance of its initial public offering ("IPO") to boost sales, which was not sustainable after the IPO and would negatively impact its profit margins. The Company's customer base was likely to roll over unused credits, cannibalizing future sales. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Snowflake, investors suffered damages.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE: The Schall Law Firm

Topic:
Class Action
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